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by Mike Caswell

Medinah Minerals Inc., the pink sheets listing once run by North Vancouver accountant Les Price, is facing a lawsuit in the Supreme Court of British Columbia over a $2,017,066 unpaid debt. (All figures are in U.S. dollars.) The suit was filed by GXK Ventures Inc., a private entity that Mr. Price controls. GXK claims that it paid Medinah's bills over a nine-year period, but the company has not reimbursed the money.

The allegations are contained in a notice of claim filed at the Vancouver courthouse on Oct 18, 2016. According to the suit, GXK entered into an oral agreement with Medinah in April, 2007, in which GXK would make payments on behalf of Medinah and would pay Medinah's debts. GXK expected that it would be reimbursed for any amounts owing, plus interest of 10 per cent per year. According to the suit, the deal was made between Mr. Price and three officers and directors of Medinah.

In the first 15 months of that agreement, GXK spent $794,106 of its own money on Medinah's expenses, the suit states. GXK claims that Medinah acknowledged this debt through a promissory note dated Aug. 17, 2008. According to the suit, GXK continued to pay Medinah's debts and made other payments on its behalf up to June 30, 2016. Medinah repaid part of the money from time to time, but never the full amount.

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